His logic is pretty straightforward. The iPhone is the most important product for Apple by a mile. Why share the spotlight with a brand new iPad?

This iPad Mini will reportedly be 7.85-inches in diagonal. It will weigh the same as two iPhones, and it will have thinner edges than the current iPad. It is expected to cost $200-$300, putting it in direct competition with the smaller, cheaper tablets from Amazon and Google.

If Apple released the iPad Mini and the iPhone 5 at the same time then the two products would compete for our attention.

Therefore, Gruber believes Apple releases the iPhone 5. Then a month later it releases the iPad Mini. This gives each product an opportunity to get the full attention of gadget reviewers and the general public.

We don't know if Apple through back channels decided to float this stuff to Gruber and Dalrymple.

But, it certainly should have, if it didn't. The investing world is now expecting to see two products from Apple in September. When it has its big event for the iPhone 5, if was just the iPhone 5, there would be people that felt let down.